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Daniel Butler, Director ([email protected]), and Bryce Figot, Special Counsel ([email protected]), DBA Lawyers This article provides some background and some key points to SMSF investment strategies. What is an investment strategy? An investment strategy is a plan for making, holding and realising assets consistent with the investment objectives adopted by an SMSF trustee. An investment strategy [read more]
By William Fettes ([email protected]), Senior Associate Introduction The $1.6 million transfer balance cap (‘TBC’) imposes a limit on the total amount that a fund member can transfer into an exempt (retirement phase) pension. The TBC was introduced with effect from 1 July 2017 with the intention of making the tax concessions in superannuation more sustainable [read more]
As one of a number of ‘housing affordability’ measures where superannuation is seeking to encourage housing affordability, downsizer contributions were introduced from 1 July 2018 to allow those aged 65 or over to sell their main residence and make up to a $300,000 contribution to superannuation or $600,000 for a couple provided the relevant legislative [read more]
By Daniel Butler, Director ([email protected]), DBA Lawyers Employers are required to make the minimum superannuation guarantee (‘SG’) contribution for each employee to avoid a shortfall under the Superannuation Guarantee (Administration) Act 1992 (Cth) (‘SGAA’). This appears to be a simplistic rule. If an employer does not provide the minimum SG contribution, significant penalties apply. The real issue [read more]
Daniel Butler ([email protected]), Director, DBA Lawyers Taxation Ruling TR 2019/2 Income tax: whether penalty interest is deductible provides the Australian Taxation Office’s (‘ATO’s’) view on the deductibility of penalty interest. It replaces Taxation Ruling TR 93/7W Income tax: whether penalty interest payments are deductible, which has been withdrawn. This article highlights the relevance of TR 2019/2 for self managed superannuation [read more]
By Daniel Butler, Director, DBA Lawyers A unit trust is a popular structure to hold property and other investments. This article examines numerous methods how an SMSF may invest in a unit trust. Multiple unitholders Many publicly offered managed investment funds are structured as a unit trust to allow multiple investors to invest in a [read more]
Daniel Butler ([email protected]), Director, DBA Lawyers This article examines who is authorised to provide taxation advice in view of the limitations in the Corporations Act 2001 (Cth) (‘CA’) on advisers relating to who can provide financial product advice. Broadly, there are a number of exemptions in the CA and Corporations Regulations 2001 (Cth) (‘CA Regs’) [read more]
Daniel Butler ([email protected]), Director and Bryce Figot ([email protected]), Special Counsel, DBA Lawyers Imagine a conflict between pension documentation and a binding death benefit nomination (‘BDBN’) in a self managed superannuation fund (‘SMSF’) context. For example, the pension documentation states that the pension is reversionary to the surviving spouse; however, the BDBN states that the death benefits [read more]
Daniel Butler ([email protected]), Director, DBA Lawyers Not only does DBA Lawyers have the best SMSF governing rules and related SMSF documents available, we offer many value added benefits that are not available elsewhere. Recent changes to DBA Lawyers’ SMSF governing rules The new and improved version of the DBA Lawyers’ SMSF governing rules come with [read more]
By Daniel Butler, Director ([email protected]), DBA Lawyers What is Single Touch Payroll? The Single Touch Payroll (‘STP’) regime was introduced to provide the ATO with real time information on employer PAYG and superannuation obligations. It also provides employees with greater transparency of their salary and reportable superannuation and fringe benefit entitlements. From 1 July 2019, all employers, [read more]
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